UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): February 3,
2011
China
Botanic Pharmaceutical Inc.
(Exact
name of registrant as specified in its charter)
|
Nevada
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001-34808
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88-1273503
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||
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(State
or Other Jurisdiction of
Incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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No.
218, Taiping, Taiping District
Harbin,
Heilongjiang Province
P.R.
China
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100016
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(Address
of Principal Executive Offices)
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(Zip
Code)
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+86-451-5762-0378
(Registrant’s
telephone number, including area code)
Renhuang
Pharmaceuticals, Inc.
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
4.02.
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NON-RELIANCE ON PREVIOUSLY
ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR
COMPLETED INTERIM REVIEW.
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On
February 3, 2011, the Audit Committee concluded, after consultation with its
independent registered public accounting firm Windes & McClaughry
Accountancy Corporation (the “Auditor”) and a review of the pertinent facts,
that the previously issued financial statements contained in the Company's
Annual Report on Form 10-K for the year ended October 31, 2010 (“Form 10-K”)
should not be relied upon because of an error in calculating the weighted
average common stock outstanding on a diluted basis as of October 31,
2010 which affected the calculation of the diluted earnings per share. The
Company’s management, in consultation with the Auditor, has determined that as a
result of such error, its reported diluted earnings per share was understated by
$0.03 for the year ended October 31, 2010. The diluted earnings per share for
year ended October 31, 2010 should have been $0.47 based on the weighted average
common stock outstanding on a diluted basis of 37,778,028.
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As
Reported
10/31/2010
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Corrected
10/31/2010
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|||||||
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Net
Income
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$ | 17,868,942 | $ | 17,868,942 | ||||
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Weighted
average common stock outstanding - Diluted
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40,174,637 | 37,778,028 | ||||||
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Earnings
per common stock - Diluted
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$ | 0.44 | $ | 0.47 | ||||
Certain
members of the Audit Committee and executive officers of the Company have
discussed the matters disclosed herein with the Auditor.
The
Company intends to file amendments to Form 10-K for the fiscal year ended
October 31, 2010 as soon as practicable, which will restate the financial
statements previously included therein.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
| China Botanic Pharmaceutical Inc. | |||
| a Nevada Corporation | |||
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Dated: February
8, 2011
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By:
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/s/ Shaoming Li | |
| Shaoming Li | |||
| Chief Executive Officer | |||